Why and How to Invest in Cryptocurrency Anonymously?

This article describes why it is better to stay incognito and how to buy bitcoins anonymously. We have collected 5 easy methods that will help you keep your personal data in secret. Read the article for more detail. It is also anonymous.

Read time: 6 min

Cryptoassetsrank.com Published on Aug 07, 2018

This article describes why it is better to stay incognito and how to buy bitcoins anonymously. We have collected 5 easy methods that will help you keep your personal data in secret. Read the article for more detail. It is also anonymous.

What does anonymity offer in crypto environment?

Intruders will not get your personal data. You will not indicate your first name and surname anywhere, the transactions in blockchain will be connected only with the wallet address.

Outsiders will not get information about your financial condition.

You can keep payments to suppliers and other partners secret from your competitors.

Anonymity will not influence your chances to return your money, if you invest it in a scam. Anonymous participants have the same chances to return their money as those who got registered in a whitelist and underwent KYC verification in a scam: the chances are zero. To prove it, here is a letter from the HYIP creators to the cheated investors:

The letter was sent by the Invex Group scammers in 2006 but the fraud schemes have not changed since then.

How to buy cryptocurrency anonymously?

The initial coin offering organizers accept investments in cryptocurrencies: bitcoin, ethereum, dash and others. If you have not got any cryptocurrency yet, you should buy it. If you want to stay anonymous, it is a bad idea to do it via a bank card at Coinbase or CEX.io. You will have to register, indicate your personal data and pay with your bank card.

To stay incognito, it is better to buy cryptocurrency for investments using the following methods.

Crypto ATMs. ATMs are located in trade centres, banking outlets and other public places. You can buy bitcoin instantly without ID: the installation of crypto ATMs is monitored by the state; all ATMs are legal; and scammers cannot hack them and steal the users’ personal data.

There is a high fee of 10% for purchasing cryptocurrency via ATMs and the purchase limits are low. You can usually exchange up to $750-$1000 anonymously. If you need a bigger amount, you will have to undergo verification.

Location of crypto ATMs on the map at coinatmradar.com

P2P exchanges. Sellers from thousands of cities all over the world are registered at specialized exchange sites, for example, LocalBitcoins, Bisq and Paxful. You can make an appointment with them and purchase bitcoins anonymously. When making a peer-to-peer purchase, there is a negotiated exchange rate and the fee is not more than 0.2-1%.

To buy cryptocurrency, you need to spend a lot of time and go to neighbouring cities if there is no seller nearby. There are a lot of scammers at specialized sites, that is why you need to study the seller’s rating and reviews carefully to make sure that they are real.

Ads about selling bitcoins for cash at LocalBitcoins

Decentralized cryptocurrency exchanges. The cryptocurrency exchanges like OpenLedger, Waves and EtherDelta do not have centralized control like traditional exchanges. Instead of the administration, the smart contracts process the transactions. The transactions are conducted directly between the participants. You do not have to undergo verification at such websites: it is sufficient to register and confirm your account via email.

Cryptocurrency exchanges have a complex interface. It can be difficult for the novices to make sense of it.

Registration at OpenLedger without entering personal data

How to participate in ICO without verification?

When you have bought bitcoin without verification, you need to find a suitable project for anonymous investment. Anonymous ICO investment is not available in every startup, that is why the choice will be limited. To stay incognito, you need:

To select an ICO without KYC. When undergoing the Know Your Customer procedure, you will have to provide personal data. First, they will ask you to indicate your first name, surname and your contact details and then to confirm them by photos or scanned copies of your documents. Only the projects with no verification required are suitable for anonymous investment.

The startups without KYC are getting fewer because the local regulators require client verification. For example, in the USA SEC can close down an ICO without KYC at any time.

To take part in the projects without a whitelist. You will need to indicate your personal data in a whitelist, in order to participate in a Pre-ICO and buy the coins at a more favourable price. You cannot indicate false data: if the organizers identify mismatching data, they can cancel the transaction. You can invest anonymously in the startups without a whitelist.

The “whales”, or big investors, can take part in ICOs without a whitelist. If they buy out all the tokens during a Pre-ICO, you will be able to buy the coins only during an ICO, or there can be no coins left.

Purchase and investment anonymity is relative. For example, you can be de-anonymized if you conduct all the transactions from the same address or use a browser that saves logins and passwords.

It is one of the ways to secure your investments in cryptocurrency and ICOs.

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